Oil futures finished up closer to $60—will the increase continue?

  • February 5, 2021

Crude oil futures finished up nearly 1% on Friday to end the week after several days of gains in prices in the U.S. and overseas. They also hit their highest mark in a year and are closer to the $60 mark. Investors and producers have high hopes the gains will continue in the coming week.

West Texas Intermediate crude finished up 62 cents at $56.85 a barrel for a gain of 1.10% in trading on the New York Mercantile Exchange.

Brent crude rose 50 cents to finish the day at $59.34 a barrel on ICE Futures Europe. It was a change of 0.85%.

Natural Gas did just the opposite and fell 7 cents, settling at $2.86 per MMBtu for a loss of 2.45%.

Most Oklahoma energy stocks made gains in Friday’s trading but Chesapeake Energy Corporation suffered a nearly 19% loss in trading as shares fell 66 cents to $2.89. The company prepares to exit Chapter 11 bankruptcy in the coming week.

But others saw improved prices such as Alliance Resource Partners, L.P. where stocks rose about 1% with a 4 cent increase to $6.30.

Cimarex Energy Co went up $1.13 for a 2.41% gain to $47.95.
Continental Resources, Inc. finished up 17 cents for a 1% gain to $20.99.
Enable Midstream Partners LP had a 2.29% when stocks increased 13 cents to $5.80.
Helmerich & Payne, Inc. finished up 18 cents for a nearly 1% gain to $26.27.
LSB Industries, Inc. settled at $4.18 following a nearly 6% gain with a 22 cent increase in shares.
Laredo Petroleum Inc jumped nearly 9% after shares rose $2.39 to $29.90.
Magellan Midstream Partners, L.P. finished up 8 cents at $40.59 for a gain of 0.20%.
Mammoth Energy Services Inc closed at $4.52 following a 4 cent increase or about a 1% gain.
Matrix Service Co settled up 4 cents for a 0.31% gain to $12.81.
OGE Energy Corp. picked up 5 cents for a 0.16% gain to $31.43.
ONE Gas Inc rose 62 cents for about a 1% gain to $72.90.
ONEOK, Inc. increased 37 cents for a nearly 1% gain to $42.84.
Ovintiv Inc closed at $18.66 with a 35 cent increase and 2% gain.
PHX Minerals Inc rose 13 cents for a gain of 4.21% to $3.22.
Williams Companies Inc gained 0.30% when shares finished up 6 cents at $22.09.
Other Oklahoma stocks experienced losses in Friday’s trading.
Blueknight Energy Partners LP finished down 7 cents for a 3.35% loss to $2.02.
Devon Energy Corp also closed down with a 25 cent loss or 1.38% drop to $17.90.
Gulfport Energy Corporation dropped nearly 9% to close at 8 cents a share.
NGL Energy Partners LP lost 15 cents for a 5.34% slide to $2.66.
SandRidge Energy Inc. fell 3 cents for a nearly 1% loss to $4.73.

Other energy stocks had a mixed day despite improved crude oil futures according to a review of the Texas Energy Report.

Chevron (CVX) up 0.26 at 89.26 – change 0.29%

ConocoPhillips (COP) up 0.41 at 44.42 – change 0.93%

Diamondback Energy (FANG) down 0.90 at 64.45 – change 1.38%

Energy Transfer LP (ET) up 0.12 at 6.72 – change 1.85%

Enterprise Products Partners (EPD) up 0.25 at 21.04 – change 1.20%

EOG Resources (EOG) down 0.86 at 56.61 – change 1.50%

ExxonMobil (XOM) up 1.62 at 49.95 – change 3.35%

Kinder Morgan (KMI) up 0.12 at 14.15 – change 0.85%

Marathon Oil Corp. (MRO) up 0.13 at 7.94 – change 1.66%

National Oilwell Varco (NOV) down 0.41 at 13.37 – change 2.98%

Occidental Petroleum (OXY) up 0.26 at 22.56 – change 1.16%

Phillips 66 (PSX) up 0.11 at 72.04 – change 0.15%

Pioneer Natural Resources (PXD) up 1.64 at 128.24 – change 1.29%

Valero (VLO) up 0.66 at 61.72 – change 1.08%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) down 0.02 at 82.19 – change 0.03%

CenterPoint (CNP) down 0.03 at 21.40 – change 0.14%

Entergy (ETR) up 0.16 at 96.63 – change 0.16%

Jerry Bohnen